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<ul><li>Demand in the first quarter has shrunk because of high prices in April and May, said <keyword id="236770" type="General" weightage="80" keywordseo="adani-wilmar" source="Orion">Adani Wilmar</keyword> CEO on <keyword id="57322" type="General" weightage="20" keywordseo="edible-oil" source="Orion">edible oil</keyword> sales.</li><li>The demand in rural areas will continue to be slow in the second quarter too, the company says</li><li>Consumers are downgrading to smaller packs and cheaper brands, the company says.</li><li>Adani’s own King’s brand that’s cheaper than Fortune, has performed better in some rural pockets.</li></ul>Adani Wilmar witnessed subdued demand from rural India in its first quarter, in spite of <a href="https://www.businessinsider.in/business/corporates/news/adani-wilmar-cuts-fortune-oils-for-the-second-time-by-20/articleshow/92952328.cms">slashing </a>its edible oil prices in late June. “Demand in the first quarter has not grown. It has actually shrunk because of the very high prices in April and May, partially coming down in June and then July,” Angshu Mallick, CEO, Adani Wilmar told Business Insider India. Its refined oil sales, under the <keyword id="1385434" type="General" weightage="20" keywordseo="fortune-oil" source="Orion">Fortune Oil</keyword> brand, was lower by 5.6% as compared to last year. Adani Wilmar had even <a href="https://www.businessinsider.in/business/corporates/news/adani-wilmar-cuts-fortune-oils-for-the-second-time-by-20/articleshow/92952328.cms">announced a second reduction</a> in its sticker price in July by up to ₹20, but <keyword id="884977" type="General" weightage="20" keywordseo="rural-demand" source="Orion">rural demand</keyword> hasn’t picked up. It probably won’t in the second quarter either. This, however, has more to do with rural India’s spending power than the prices. “The demand in rural areas will continue to be slow in the second quarter also because they would look forward to a better crop, which they will harvest only from October onwards. So from the money point of view, farmers will not have any great money. I don't think rural demand will be any robust,” Mallick told Business Insider India. Smaller packs, cheaper brands Since oil is a household essential, consumers, the company says, are downgrading to smaller packs and cheaper brands. Adani Wilmar’s own edible oil brands at the lower rung like King’s and Aadhar, have performed better in some rural pockets. “In every FMCG category, we have seen that consumers have shifted to masstige brands or popular brands rather than premium. From premium, they have downgraded and we have seen that in edible oil also,” said Mallick. Masstige brands are mass-market brands which are priced lower than premium but still retain a ‘brand’ value. Apart from masstige brands, Adani also saw more demand for mustard oil from rural India. “When it comes to mustard oil, we have seen that Fortune mustard oil has much stronger equity than the masstige brands because consumers are afraid of any adulteration. So, here our Fortune has done much better,” said Mallick. However, the trend of smaller packs has pushed up its volumes as consumers are now buying four to five times a month. “If a single payment is ₹150 a litre, consumers have to pay out almost ₹2,500 for a 15 litre pack. So, paying ₹2500 altogether by a rural or a small-town consumer is definitely tight and tough. Against that, they can always pay ₹100 and buy a half litre bottle or ₹200 for one litre,” Mallick said. Also, after two price slashes in two months, they do not want to buy large quantities as they hold on to hope of another price cut.

No festival cheer ahead for Fortune Oil’s rural sales, says Adani Wilmar CEO

<ul><li><keyword id="2808667" type="General" weightage="20" keywordseo="oyo" source="Orion">OYO</keyword> has recommended customers to use the ‘Pay At Hotel’ feature to pay at the time of check-in.</li><li>OYO also noted that 95% of Indian travelers prefer domestic trips over international locations.</li><li>Hill stations are the most popular destinations this monsoon, with Ooty, Lonavala and Munnar raking in maximum travel intent.</li></ul>Indian travelers have now switched to more frequent shorter domestic trips instead of planning elaborate yearly trips, as per a report by OYO. The budget hotel chain’s monsoon report also said that consumer demand to travel is seen throughout the year. “In 2022, we’re seeing a shift in traveller mindset to pre-lockdown times. We’re observing more and more consumer demand to travel throughout the year, for shorter trips. This monsoon, as per our findings, consumers are looking forward to traveling to scenic destinations and making the most of the rains, closer to nature,” Shreerang Godbole, SVP of product &amp; chief service officer, OYO said. Even in August, with its three long weekends, over 50% of the respondents noted that they would take trips that last anywhere between one and three daysdays. Meanwhile, 33% have been thinking of a week-long trip all thanks to flexible remote and hybrid work. The company slashed prices on stays for the long weekends between August 8 to August 21, with tariffs starting at ₹399. It recommended customers to use the ‘Pay At Hotel’ feature to book their stays now and pay at the check-in time at the hotel. “This year, Raksha Bandhan and Independence Day, could be clubbed together giving consumers the leeway to take that much needed trip with family, friends or even enjoy some quiet time travelling solo. This year has been all about travel aspirations and our campaign is an ode to the unexplored domestic destinations of India,” Godbole had noted. The company’s previous report also noted that 95% of Indians now prefer domestic trips over international ones. Its Monsoon Travel Report 2022 also found that 50% of its respondents are keen to take a monsoon trip beyond city-limits. The report also noted that hill stations like Ooty, Lonavala, Munnar, Shillong and Coorg are the most popular destinations this monsoon. Uttarakhand was another popular destination among travelers. Nearly 40% of the people choosing these destinations are looking for accommodation in scenic locations with hill or lake views. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/finance/news/msme-credit-demand-jumps-60-from-pre-pandemic-levels-in-signs-of-rebound-in-economic-activity/articleshow/93457388.cms">MSME credit demand jumps 60% from pre-pandemic levels – a sign of rebound in economic activity</a> <a href="https://www.businessinsider.in/business/news/indias-lab-grown-diamonds-are-adding-more-shine-to-the-worlds-diamond-market/articleshow/93458389.cms">Indian diamantaires want to make lab-grown diamonds a woman’s best friend</a> <a href="https://www.businessinsider.in/retail/news/adani-wilmars-angshu-mallick-on-edible-oil-prices-rural-consumption-patterns-and-outlook-for-q2fy23/articleshow/93425126.cms">Adani Wilmar’s Angshu Mallick on edible oil prices, rural consumption patterns and outlook for Q2FY2</a>

Consumers are taking more shorter trips through the year says OYO

<ul><li>Earlier this week, the government reduced the base import prices of crude palm oil and soy oil.</li><li>Following this, edible oil companies have slashed prices of <keyword id="44868" type="General" weightage="20" keywordseo="cooking-oil" source="Orion">cooking oil</keyword>.</li><li>Additionally, prices of household products like soaps, biscuits, noodles and even shampoo, lipsticks and detergents will also fall as palm oil is one basic ingredient here.</li></ul>One of India’s top FMCG companies, Adani Wilmar reduced the prices of one of the priciest of groceries in recent times – cooking oil. "We are passing on the benefit of the reduced cost to our customers. We are confident the lower prices will also boost demand," said Angshu Mallick, MD and CEO at Adani Wilmar after reducing the price of Fortune refined Sunflower oil's one-litre pack by ₹10 to ₹210. This comes after Hyderabad-based Gemini Edibles &amp; Fats and Mother Dairy both cut prices of cooking oil by ₹15 on one-litre pack – bringing relief to this household essential which has been on the receiving end of inflation for months now. This sentiment could spread across more packaged products, by more FMCG majors. “We expect consumer and retail companies to pause taking further price increases though sector valuations appear rich, with improving out‐of‐home consumption,” said a report by Centrum Broking firm. In the last few months as input costs rose, <keyword id="160413" type="General" weightage="20" keywordseo="fmcg-players" source="Orion">FMCG players</keyword> have been resorting to reducing pack sizes while increasing pack prices. A reduction in base import of crude palm oil, soy oil could be passed on to other products in which it is used like — soaps, biscuits, noodles and even shampoo, lipsticks and detergents. It would mean a sharp reduction in household grocery bills, which have only been on the rise for consumers. Normal monsoon can aid the sector to remain green Lower prices would also mean the tapering demand for packaged products would also improve. Also, there are expectations that rural demand may recover on the back of higher government spending and normal monsoon. Rural demand has been hit after consumers <a href="https://www.businessinsider.in/india/news/life-in-rural-india-hit-by-a-wilted-rabi-crop/articleshow/92333426.cms">traded down to cheaper and smaller packets </a>after inflation hit their doorsteps much harder than it did for urban consumers. If and when consumers shift to smaller pack sizes, most FMCG players tend to lose market share to local and regional players who cater more variety at those price points. However, if pack prices improve, FMCG majors’ volumes will improve – which have been losing revenue for the last eight months. Rural economy is key for FMCG players as a cool off in agricultural commodities inflation will also help reduce their own costs and improve margins. “If commodity prices witness correction from the current level, margins of consumer goods companies might witness a sequential improvement from Q3 FY2023. Commentary of most consumer goods companies suggests recovery in sales volume from Q2/Q3 of FY2023, if the inflation environment stabilizes in the coming months,” said analysts at Sharekhan. An FMCG bull run The optimism around the sector picking up soon is reflected in companies share prices as well. In a weak market sentiment, shares of FMCG players were among the biggest gainers as their fortunes will improve irrespective of worries about global interest rates and a possible recession in the US. “We are very bullish on the FMCG sector from here because we believe costs are coming down from previous highs and they are in a position to pass on incremental costs to consumers, which will help to increase these companies' margins,” said Ravi Singhal, vice chairman at GCL Securities. An FMCG bull run in a market would actually buck the trend of an overall lack of enthusiasm in stocks — proving the theory that no matter what happens, people will keep buying essentials albeit at the right price. <div type="image" title="color fmcg" height="900" width="1200" msid="92336486" hostid="261"></div> <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[]]></cdata></div> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/life-in-rural-india-hit-by-a-wilted-rabi-crop/articleshow/92333426.cms">Vanished savings, trading down to cheaper essentials – life in rural India hit by a wilted Rabi crop</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/environment/news/india-heads-into-the-thunderstorm-zone-right-after-the-heatwave-orange-alerts-issued/articleshow/92333863.cms">India heads into the thunderstorm zone right after the heatwave, orange alerts issued</a>

Cooking oil prices drop - soaps, noodles and detergents might follow suit

Business conglomerate <keyword id="6367820" type="ORGANIZATION" weightage="20" keywordseo="adani-group">Adani Group</keyword>'s edible oil firm <keyword id="236770" type="COMPANY" weightage="20" keywordseo="Adani-Wilmar">Adani Wilmar</keyword> on Monday filed draft papers with markets regulator <keyword id="35210" type="ORGANIZATION" weightage="20" keywordseo="sebi">Sebi</keyword> to launch its initial public offer (IPO) to raise up to Rs 4,500 crore for funding its expansion. Adani Wilmar, an equal joint venture between Adani Group and Singapore-based Wilmar, was formed in 1999. It sells cooking oils under the <keyword id="27145" type="COMPANY" weightage="20" keywordseo="Fortune">Fortune</keyword> brand as well as various other food products like rice and sugar. The company, which aims to become a major <keyword id="34523" type="CITY" weightage="20" keywordseo="fmcg">FMCG</keyword> player, has an annual turnover of more than Rs 30,000 crore. In a regulatory filing, Adani Enterprises said <keyword id="4093966" type="COMPANY" weightage="20" keywordseo="adani-wilmar-ltd">Adani Wilmar Ltd</keyword> (<keyword id="3020883" type="ORGANIZATION" weightage="20" keywordseo="AWL">AWL</keyword>) has filed Draft Red Herring Prospectus (DRHP) with Sebi for its IPO. "The proposed listing of AWL on the stock exchanges will comprise an IPO in the form of fresh issue of new equity shares by AWL for an amount of up to Rs 45,000 million (approximately $600 million)," Adani Enterprises said. "There will not be any secondary offering," said Adani Enterprises, the flagship firm of the Adani Group. Adani Wilmar proposes to use the net proceeds to expand its existing manufacturing plants, set up new facilities, repayment/prepayment of borrowings, fund strategic acquisitions and investments, and general corporate purposes. "The proposed listing is intended to further the growth of AWL's operations by increasing its market visibility and awareness among current and potential customers," the filing said. "As there is no assurance that the Proposed Listing will proceed, shareholders and potential investors are advised to exercise caution when dealing with the securities of the company," Adani Enterprises said. In November last year, Gujarat-based Adani Wilmar completed 20 years of operations of its flagship 'Fortune' brand. AWL's deputy CEO Angshu Mallick had said the company's revenue is more than Rs 30,000 crore, of which edible oil business contributes around Rs 24,000 crore. Currently, six Adani Group companies are listed on domestic bourses. Apart from Adani Enterprises, other listed ones are Adani Transmission, Adani Green Energy, Adani Power, Adani Total Gas, and Adani Ports and Special Economic Zone. Adani Wilmar also sells soap, handwash and hand-sanitisers. SEE ALSO - <a href="https://www.businessinsider.in/tech/news/google-is-now-using-chrome-as-another-security-layer-for-account-sign-ins/articleshow/84975356.cms">Google is now using Chrome as an added security layer for account sign-ins</a> <a href="https://www.businessinsider.in/stock-market/news/how-to-check-allotment-status-of-glenmark-life-sciences-ipo/articleshow/84978486.cms">Glenmark Life Sciences IPO: How to check allotment status, listing date and more</a>

Adani Group firm Adani Wilmar to raise ₹4,500 crore via IPO

<ul><li><keyword id="1107" type="General" weightage="20" keywordseo="sunil-kataria" source="Orion">Sunil Kataria</keyword>, Chief Executive Officer, India and SAARC, <keyword id="140888" type="General" weightage="20" keywordseo="godrej-consumer-products" source="Orion">Godrej Consumer Products</keyword> Limited has been re-elected as the Chairman of the <keyword id="32717" type="General" weightage="20" keywordseo="indian-society-of-advertisers" source="Orion">Indian Society of Advertisers</keyword>.</li><li>Sunil has led the Society over the past five years.</li><li>The <keyword id="222666" type="General" weightage="80" keywordseo="isa" source="Orion">ISA</keyword> played a significant role in formation of BARC and is closely partnering with it towards advertisers getting robust and credible data.</li></ul>The newly elected Executive Council of the Indian Society of Advertisers (ISA) has elected Sunil Kataria, Chief Executive Officer, India and SAARC, Godrej Consumer Products Limited as the Chairman of the ISA. Sunil has led the Society over the past five years to greater heights garnering support from the fellow Executive Council members, the ISA members and other industry bodies. On his election for the sixth consecutive term as the Chairman of the ISA, Sunil said, “In our journey towards creating greater value proposition for the ISA in the industry, the focus will be to make this unique body even stronger in the future to provide value added support to our members for the new normal and beyond. With the digital advertising having ascended as second only to TV and growing even further, our endeavour this year would be take forward our efforts in the area of digital measurement. The ISA’s plans to work with BARC to create a Multimedia Measurement are progressing in good shape. We heartily thank all fraternity organizations for their strong partnering and this will surely help us scale newer heights. I also acknowledge the continuing support by the ISA members in all our endeavours.” He further added, “In particular reference to the Covid-19 pandemic, I am glad to acknowledge the cooperation of all our members, industry associates, vendors and ISA Secretariat team in staying safe, getting vaccinated and adhering to directives by health authorities and governments”. ISA is the apex national body as a strong voice to advertisers over the last 69 years. Its cross-sector advertiser members contribute to more than half of the annual national non-governmental ad spends. ISA, which is a founder member of the World Federation of Advertisers (WFA) and one of the founders of ASCI, continues to partner with other industry bodies that connect to the advertisers. The ISA played a significant role in formation of BARC and is closely partnering with it towards advertisers getting robust and credible data. Other members of the Executive Council are: Atul Agrawal, Senior Vice President – Corporate Brand and Marketing, Tata Services Limited Narendra Ambwani, Director, Agro Tech Foods Limited Tarun G. Arora, Chief Executive Officer &amp; Whole Time Director, Zydus Wellness Limited Subhadip Dutta Choudhury, Chief Executive Officer, Hawkins Cookers Limited Paulomi Dhawan, Independent Director, Whistling Woods International Neil George, Managing Director, Nivea India Pvt Limited Girish Kalyanaraman, Vice President, Brand Operations, Procter &amp; Gamble Hygiene and Health Care Limited Chandru Kalro, Managing Director, TTK Prestige Limited Devraj Lahiri, Chief Operating Officer - India Tobacco Division, ITC Limited Angshu Mallick, Managing Director &amp; CEO, Adani Wilmar Limited Bharat V. Patel, Independent Director, Aditya Birla Sun Life AMC Limited Anuj Poddar, Executive Director, Bajaj Electricals Limited Ramakrishnan Ramamurthi, Advisor J. K. Enterprises Ram Raghavan, Managing Director, Colgate-Palmolive (India) Limited <keyword id="2907402" type="General" weightage="20" keywordseo="gauravjeet-singh" source="Orion">Gauravjeet Singh</keyword>, General Manager – Media Services (South Asia) Media Dept, Hindustan Unilever Limited Shashank Srivastava, Senior Executive Director (Marketing &amp; Sales), Maruti Suzuki India Limited

Sunil Kataria elected as the Chairman of The Indian Society of Advertisers for the sixth consecutive term

New Delhi, Apr 16 () Adani Wilmar, which sells cooking oils and other food products under Fortune brand, on Thursday said it has distributed more than 25,000 litre of edible oil and large quantities of food grains to people affected by the ongoing nationwide lockdown to control COVID-19. It has also provided 30,000 litre oil at highly subsidised rates for community kitchens, the company said. Adani Wilmar said it has been able to ensure adequate availability of Fortune brand oils, rice, atta, and pulses in the market in spite of supply chain disruptions, lack of workers at manufacturing plants, and low availability of truck drivers. The distribution of edible oils and other food items has been done among people living in the vicinity of its plants in Mundra, Haldia, Mantralayam, Bundi, Mangalore, Lucknow, and other places. It has distributed food packets among truck drivers and workers and free food to the needy. In Mumbai, Adani Wilmar also distributed 25,000 packets of khichdi, through the Solvent Extractor's Association of India (SEA), to migrant labourers which can serve 1 lakh meals for free. "It is not possible for us to reach all the needy on our own, and hence we are supporting these organizations and several others to see that availability of essential food essentials is not a concern in the way of this humanitarian and massive cause," Adani Wilmar Deputy CEO Angshu Mallick said. MJH RVK

COVID-19: Adani Wilmar distributes edible oil, food grains

New Delhi, Apr 13 () Leading milk supplier Mother Dairy, which sells cooking oils under Dhara brand, on Monday said the company's production and sales of edible oils have been hit by 35-40 per cent post nationwide lockdown to control the spread of COVID-19. While production has been hit due to labour shortages and logistics issues, the demand is down because of closures of hotels, restaurants and cafeterias that contribute a significant part of sales. Mother Dairy used to produce 650 tonnes of edible oils per day before the lockdown. The sales per day were also in the same range. Responding to an e-mail query, Mother Dairy spokesperson said the impact on business has been in the range of 35-40 per cent during this lockdown period."Initially there was a significant decline in production after lockdown as labour and manpower were unavailable. However, the issues are being addressed gradually. There is a demand for our product as it's an essential food item, however, due to logistical issues and closure of business establishments sales have been impacted," the spokesperson said. Asked whether the company increased prices of cooking oils after lockdown, the spokesperson said the price revision is a routine activity in our business due to volatility in raw material prices."Prices were not changed due to lockdown announcement but were changed as a routine business exercise," the spokesperson said. Mother Dairy has an annual production capacity of 2 lakh tonnes and approximately the same is the demand of Dhara."We operate with 18 third party packing units. All these plants are strictly following safety and hygiene guidelines announced by the government," the spokesperson said. Last week, leading edible oil firm Adani Wilmar, which sells cooking oil under Fortune brand, deputy CEO Angshu Mallick had told that the company's production and sales have been hit by 40 per cent and 25 per cent, respectively, after lockdown. The country's total edible oil demand is 230 lakh tonnes annually, which is largely met through imports.India's total vegetable oil (edible and non- edible) imports increased 3.5 per cent to 155.5 lakh tonnes in the 2018-19 marketing year (November-October).While shipments of edible oil increased to 149.13 lakh tonnes in the 2018-19 marketing year from 145.16 lakh tonnes in the previous year, the imports of non-edible oil grew to 6,36,159 tonnes from 5,09,748 tonnes during the period under review.During the November 2019 to February 2020 period of the current oil year, imports have fallen by 6.1 per cent to 45,63,791 tonnes compared to 48,62,849 tonnes in the corresponding period of the previous year. MJH RUJ

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No festival cheer ahead for Fortune Oil’s rural sales, says Adani Wilmar CEO

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Consumers are taking more shorter trips through the year says OYO

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Cooking oil prices drop - soaps, noodles and detergents might follow suit

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Adani Group firm Adani Wilmar to raise ₹4,500 crore via IPO

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Sunil Kataria elected as the Chairman of The Indian Society of Advertisers for the sixth consecutive term

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COVID-19: Adani Wilmar distributes edible oil, food grains

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Mother Dairy edible oil production, sales drop 35-40 pc post lockdown

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